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Canada Kicks Chinese Companies Out of Lithium Mining

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Vancouver, BC –News Direct– MarketJar

After placing restrictions on foreign participation in supplying “critical minerals” used in batteries and high-tech devices, the government of Canada has ordered three Chinese companies to divest their lithium mining holdings in that nation.

The order issued on Wednesday comes as tensions between the West and China increase over who will control the supply of minerals such as lithium, rare earths, cadmium, and other materials used in solar cells, wind turbines, mobile phones, electric cars, and other new technologies.

As the ruling Communist Party promotes the growth of the renewable energy, electric vehicle, and other tech industries, Chinese miners are investing in manufacturing in Africa, Latin America, Canada, and other places.

Francois-Philippe Champagne, the Minister of Innovation, announced restrictions this week on foreign state-owned firms’ ability to produce “critical minerals.” Any level of investment, he warned, would only be accepted on an “extraordinary basis.”

Following Russia’s war on Ukraine, which disrupted the world’s oil and gas markets, and conflict with China, which produces the majority of the world’s rare earths, Western governments want industrial supply chains controlled by allies.

A court mandated that Sinomine (Hong Kong) Rare Metals Resources sell its shares in Power Metals Corp., a Vancouver-based company with tantalum, lithium, and cesium exploration interests in northern Ontario.

Chengze Lithium International Ltd. must sell its shares in Lithium Chile Inc., a Calgary-based business with active lithium properties in Chile. The Vancouver-based Ultra Lithium Inc., which has lithium and gold properties in Canada and Argentina, was ordered to sell Zangge Mining Investment’s interest.

Champagne said in a statement that while Canada welcomes foreign investment, it “will act decisively when investments threaten our national security and our critical minerals supply chains.”

Lithium demand is higher than ever, and while lithium production is expected to increase by 21% in 2021, global lithium consumption is expected to increase by 33%. The gap will widen as the West moves further away from China’s lithium supplies, prompting calls for at least $42 billion in lithium investment over the next six years to meet 2030’s forecasted demand of 2.4 million tonnes per year.

Canada (particularly Québec and Ontario) is currently positioning itself to be a major player in the global lithium stage, with large hard rock spodumene deposits and brine-based lithium resources in place.

As a result, companies active in the region, such as FE Battery Metals (CSE:FE) (OTCQB:FEMFD), are gaining attention due to their prime real estate and exceptional infrastructure in a mining-friendly jurisdiction.

FE Battery Metals has secured one of the most dominant land positions just northwest of Val d’Or, Québec, consisting of several historical finds as well as new lithium prospects discovered through current exploration activities.

FE has discovered numerous spodumene pegmatites on its property since acquiring it, all while focusing on its Augustus Lithium Project, which is located just west of the North American Lithium Mine.

FE Battery Metals just announced the results of Drill Hole LC22-39 from the Augustus Lithium Property in Quebec, Canada. At 188.7 meters drilled depth, the drill hole LC21-39 intersected three lithium pegmatites, with the main 7.3 m wide pegmatite zone averaging 1.54% lithium oxide (Li2O).

All reported intercepts are based on drilled widths and have not been converted to true width. The results of the remaining drill holes from Phase 2 are still pending.

The drill program is based on historical and 2021 Phase 1 exploration data and the results of FE Battery Metal’s surface trenching and sampling program. On the property, several historical drill hole collars were also discovered, which aided in the location and orientation of drill holes for the current program. Forage Hebert Inc. Drilling of Amos, Quebec, is in charge of the Drill program. For this work, a B-20 drill rig capable of drilling holes up to 1,000 meters deep is being used. A core shack is being constructed in the village of St-Dominique du Rosaire, about 50 kilometers from the property, for drill core logging, sample preparation, and storage.

On the property, 42 drill holes have been completed, totaling over 7,500 meters of core drilling. A rock saw is used to log and sample the drill core at the core shack. Field duplicates, standards, and blanks are inserted at industry standard intervals for quality control and quality assurance (QA/QC).

The samples were bagged and labeled according to best practices before being delivered to Activation Laboratories (ACTLABS) in Ancaster, Ontario, for sample preparation and analysis with 35113|4855850 2 laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2). ACTLABS is a commercially independent, ISO-certified laboratory.

For more information about FE Battery Metals (CSE:FE) (OTCQB:FEMFD), please visit this link or their website at https://www.firstenergymetals.com.

Disclaimer:

1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.

2) The Article was issued on behalf of and sponsored by, FE Battery Metals Corp. Market Jar Media Inc. has or expects to receive from FE Battery Metals Corp’s Digital Marketing Agency of Record (Native Ads Inc.) one hundred fifty six thousand five hundred and sixty CAD for 30 days (21 business days).

3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy.

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding FE Battery Metals Corp.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to FE Battery Metals Corp.’s industry; (b) market opportunity; (c) FE Battery Metals Corp.’s business plans and strategies; (d) services that FE Battery Metals Corp. intends to offer; (e) FE Battery Metals Corp.’s milestone projections and targets; (f) FE Battery Metals Corp.’s expectations regarding receipt of approval for regulatory applications; (g) FE Battery Metals Corp.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) FE Battery Metals Corp.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute FE Battery Metals Corp.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) FE Battery Metals Corp.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) FE Battery Metals Corp.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) FE Battery Metals Corp.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of FE Battery Metals Corp. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) FE Battery Metals Corp.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact FE Battery Metals Corp.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing FE Battery Metals Corp.’s business operations (e) FE Battery Metals Corp. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, FE Battery Metals Corp. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does FE Battery Metals Corp. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither FE Battery Metals Corp. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of FE Battery Metals Corp. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of FE Battery Metals Corp. or such entities and are not necessarily indicative of future performance of FE Battery Metals Corp. or such entities.

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View source version on newsdirect.com: https://newsdirect.com/news/canada-kicks-chinese-companies-out-of-lithium-mining-292772027

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